MBA1019 How to Transition from Self-Employed to Business Owner

The $100 MBA Show

Omar Zenhom

Entrepreneurship, Business, Careers, Marketing

4.8 • 2.2K Ratings

🗓️ 5 June 2018

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

Your future is bigger than yourself alone.

There’s a huge difference between self-employment and business ownership. Being self-employed gives you freedom, and many prefer it to conventional 9-to-5 work. But self-employment means the whole enterprise depends entirely on you. Depending on the business, this isn’t scalable — or even sustainable in the very long term.

Business ownership, on the other hand, means taking a step back. It means being the leader, not the worker. It means delegating and trusting others with the day-to-day operation of your business, so that you can look further ahead. It’s not just about freedom. It’s about building something self-sustaining, independent of little ol’ you.

The ultimate goal of entrepreneurship is business ownership.

Even if you start as a solopreneur (as our host Omar did), eventually you’ll want to scale up, and hand off tasks to new people. This isn’t easy, and it’s not a ticket out of work. It’s a long-haul outlook that sets up a future for yourself and others.

Hear how it’s done, step by step. Click Play!

Transcript

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0:00.0	Heyo! Welcome to the $100 MBA show because your business depends on you getting better
0:15.0	every single day with our daily 10 minute business lessons for the real world.
0:19.2	I'm your host, your coach, your teacher Omar Zinholm.
0:23.1	I'm also the co-founder of the $100 MBA, a complete business training and community online
0:28.6	over at 100MBA.net.
0:31.8	And in today's episode, you will learn how to transition from self-employed to business owner.
0:38.0	And yes, there is a difference, a huge difference.
0:42.0	Being self-employed is basically creating a job for yourself. This is like
0:47.6	being a doctor and instead of working at a hospital you open your own clinic. Yes, you
0:52.2	have your own business but basically you created your own job for yourself.
0:57.0	If you don't show up to work, the business doesn't function.
1:00.4	Now I'm using this example, but you can see yourself or others in that example.
1:05.4	Where if you don't show up for work, if you don't do the work in your business for a day,
1:10.3	a two, a week, a month, the business will just not function.
1:14.0	What you really want to do is become a business owner, an entrepreneur.
1:17.0	Now, entrepreneur is a big word, and a lot of people will have mixed ideas about it.
1:21.0	Basically, what you want to do is create a business and a system where if you're removed from the equation, things keep going.
1:28.0	This doesn't mean you're not going to do any work. There are other things that you're going to do to create this business to create the system and refine the system
1:35.1	But to maintain it to keep it going you need to put the right people in place to do that for you
1:40.6	So I'm going to show you some simple strategies to make that transition.
1:44.1	If you're a self-employed right now, if you're in the trenches, if you can't remove yourself
1:47.6	from the business, if you can't remove yourself from the trenches, I'm going to show you
	...

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